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1ST LEAD VW profits double despite fallout from diesel scandal By dpa reporters

By our dpa-correspondent and Europe Online    auf Facebook posten  Auf Twitter posten  
Hanover (dpa) - Volkswagen‘s profit more than doubled last year as a rise in sales added to the world‘s biggest carmaker‘s hopes that it is emerging from the diesel testing scandal that has shaken the German-based group.

VW‘s net profit rose to 11.4 billion euros (14.01 billion dollars) last year from 5.1 billion euros in 2016, the group said in preliminary results released on Friday amid a solid gain in global deliveries.

However, the 2017 profit was marginally lower than the 11.5 billion euros forecast by analysts surveyed by dpa-AFX. VW posted a net loss of almost 1.6 billion euros in 2015.

The publication of the group‘s latest figures came as the group‘s board considers a new scandal stemming from revelations that the company helped to fund tests of toxic diesel emissions on monkeys and humans.

Along with other German carmakers, VW is also bracing itself for a decision by a German court on whether local authorities can impose bans on diesel vehicles as part of efforts to improve air pollution levels in urban centres.

While world-wide deliveries rose about 4 per cent to 10.74 million vehicles last year compared with 2016, VW said revenue climbed 6.2 per cent to 230.7 million euros.

The gains in 2017 sales and profit are likely to add to the company‘s hopes that it is now leaving the emissions testing scandal behind it, which burst into the open in September 2015 when VW admitted to cheating on diesel tests around the world.

However, VW said in September that costs associated with the emissions testing scandal in the US could become more expensive.

Internal investigations into the monkey-testing scandal have been the main focus of the carmaker‘s board members.

On Wednesday, VW had announced that it plans to introduce a code of conduct for employees.

VW had revealed that it was one of several German carmakers that had funded tests involving humans and monkeys inhaling diesel fumes.


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(21.03.2018 21:17)

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